This Tracker Got A Make-Over!

When we launched this tracker, our goal was to monitor the optical industry through the pandemic. While the road ahead is still unknown, it appears we, as a nation, are moving forward.

Now, the tracker compares more than just week to week. The tracker now measures sales trends comparing pre-pandemic, during the pandemic, and post-pandemic.

We selected 1,500 optical locations that have been operating and reporting their sales to our partners, GPN and ABB Analytics, since 2019. We re-based the index to an average week in 2019. This new index base will be used as an arbitrary benchmark and assigned a value of 100.

GROSS REVENUE 3-YEAR TREND

Optical sales remain substantially above where they were at the same time last year during pandemic shutdowns. When comparing the 21st week of 2021 (May 17-23) with the same time period in 2020, gross revenue is 20 index points above where it was last year, and it also remains at a higher level than at the same time in 2019.

BUSINESS METRICS

Little changed in optical sales over the course of last week (May 17-23) other than contact lens sales, which increased at a rate of 3 index points. The four other categories being tracked were either flat (as in the case of exams/refractions), up 1 index point (gross revenue), or down -1 index point (frame units and lens pairs).

SNAPSHOT

Following four weeks of declines, optical sales were mixed last week (May 17-23), with two categories up, two categories down, and one remaining unchanged. While contact lens sales remain at the lowest level among all categories, their increase by 3 index points brings contact lenses within only a couple of points of the second lowest category, exams/refractions. Frame units and lens pairs follow nearly equal trajectories, and while they are both down 1 index point over the past week, they remain nearly on par with an average week in 2019. Gross revenue remains above its average in 2019.

*The index baseline was developed by Jobson Research from total sales from an average week in 2019. This index baseline is equivalent to a score of 100. All other time periods going forward are calculated as a percent increase or decrease from the 100 baseline index of that period. This index is intended to show directional and magnitudinal change that the market is experiencing. Actual index scores are arbitrary meaning the baseline of 100 is simply used as a benchmark. Jobson Research shall not be held liable for any use or misuse of the data described and/or contained herein.

Please note that practices that use practice analytic systems tend to skew a bit larger and have higher revenue than practices that do not.

Source: GPN/EDGEPro and ABB Analyze contributed anonymous sales data used to determine gross revenue, exams/refractions, frame units, lens pairs, and contact lens boxes. Data was collected from approximately 1,500 independent eye care practices.

For more information from Jobson Research contact jwaller@jobson.com,

you may also reach out to GPN/EDGEPro and ABB Analyze directly.